Victoria Falls, Zimbabwe, 18 November 2024 — The eagerly-awaited Zimbabwe-Zambia (Zim-Zam) Energy Projects Summit has been officially launched today, 18 November 2024, by Zimbabwe’s Vice President Honourable General (Retired) Dr. Constantino Dominic Guvheya Nyikadzino Chiwenga. The Summit brings together international finance institutions, private sector leaders, Ministries, utilities, and regulators to make change and drive progress. This is the opportunity to secure a more sustainable energy future for both Zimbabwe and Zambia.
Under the official patronage of Zimbabwe’s Ministry of Energy and Power Development, with the theme Powering Zimbabwe and Zambia’s Sustainable Energy Future: Unlocking Opportunities in Renewables, Grid Modernization, and Energy Access, the summit is setting the stage for transformative conversations and actionable commitments over the next few days.
The governments of both countries have made innovative structural changes to make energy projects more bankable and the appetite for investment is high.
Officially launching the event, Zimbabwe’s Vice President Honourable General (Retired) Dr. Constantino Dominic Guvheya Nyikadzino Chiwenga said, “This summit comes at a time when the energy sector is at the centre of global discussions on energy security, economic development, sustainability, and the urgent need for transformative change. Zimbabwe and Zambia, two nations blessed with abundant natural resources, face not only significant opportunities but also tremendous challenges in ensuring reliable, affordable, and sustainable energy access for all our people.”
“The challenge of energy access remains one of the most pressing issues for both Zimbabwe and Zambia. While we have made significant progress in expanding electricity access, far too many of our citizens, particularly in rural and underserved areas still lack reliable energy. This limited access means fewer economic opportunities, lower standards of living, and slower industrial growth,” he added.
Chiwenga said the summit must commit to finding innovative solutions that increase investment in both on-grid and off-grid energy solutions. We must harness the power of new technologies, such as solar mini-grids, energy storage systems, and smart grids, to bring electricity to even the remotest corners of our countries.
Speaking at the event, Zimbabwe minister of energy and power development, Edgar Moyo said, “As we convene this summit here today, we recognise the urgent need to address the triple challenges of energy poverty, energy security, and climate change which we are each faced with. Zimbabwe and indeed the rest of the Southern Africa region, has been negatively affected by the climate change, which is a result of anthropogenic activities globally. Our growing desire for better standards of living and our ever-increasing population have exerted a demand for more energy. The energy demand in our country also continues to increase, in response to the rapid industrialisation of our economy”
“It is our prerogative as ministries of energy, to ensure that the energy demands are met adequately and that the quality of the energy provided is clean and sustainable. Our vision is clearer now, more than ever and that is to ensure universal access to modern, reliable, and affordable energy services, while promoting economic growth, social development, and environmental sustainability,” he said.
Zambian Energy Minister Hon. Makozo Chikote weighed in and said, “As we gather here today, we are at a critical juncture in our country’s energy and mining sectors. the demand for electricity and resources continues to grow, and it is imperative that we adopt forward-thinking strategies to meet these challenges head-on. the time has come for us to embrace innovation, sustainability, and collaboration to create a more resilient and prosperous future for zambia.”
“By encouraging the participation of private sector players in the energy sector, we aim to unlock new sources of investment, expertise, and technology that will help us meet the growing energy needs of our country and prevent future shocks such as the one being experienced,” said Chikote.
With Zimbabwe Energy Regulatory Authority (ZERA) as summit sponsor, Edington Mazambani, ZERA’s Chief Executive Officer said, “Let us unite in our vision to power Zimbabwe and Zambia’s sustainable energy future, unlocking potential for growth, innovation and collaboration.”
Countries in the Southern African Development Community (SADC) have a less than 50% energy access rate, so it was fitting that the summit opened with a session on Blended Finance and Energy Access Solutions. Governments and investors need to consider both central and decentralised energy solutions, rural communities need to be connected, and energy access programmes to be linked to wealth and job creation.
Speakers on the session included Felister Makumbinde, Acting Chief Executive Officer, Rural Electrification Agency (REA) Zimbabwe, Alex Mbumba, Director Engineering Services, Rural Electrification Authority (REA), Zambia.
Also speaking were Joseph Mutale, Chairman, Zambia Renewable Energy Association (ZARENA), Zambia; Collin Gumbu, Policy & Advocacy Lead, GOGLA; and Richard Harrison, Lead, Zambia Mini-Grid Initiative, Power & Climate Team, Rockefeller Foundation. The session was moderated by Paul van Aalst, Team Leader, GET.invest Finance Catalyst.
Bilateral and regional infrastructure will play a critical role in countering the impact of devastating droughts. The second session, Grid Expansion, Liberalisation and Security, covered grid planning, security and modernisation. A massive wave of urgent grid-infra investment is needed, and critical near- term needs were hot in the agenda. The ZiZaBoNa interconnector project linking Zimbabwe, Zambia, Botswana and Namibia, was discussed, alongside SAPP’s work on interconnection, which allows member countries to trade in electricity.
Other critical topics set to be addressed include the need for sector- focused policies to get projects over the line, working collaboratively with the mining sector to support economic growth, and the role of innovative renewable solutions in achieving universal energy access. With energy sources like solar, wind, and geothermal gaining momentum, the event serves as a launchpad for long-term solutions.
The Zim-Zam Energy Projects Summit will alternate with Zambia bi-annually under the theme, Powering Zimbabwe and Zambia’s Sustainable Energy Future: Unlocking Opportunities in Renewables, Grid Modernization and Energy Access.
The Zambia Environmental Management Agency (ZEMA)’s recent investment of $1.76 billion into the energy sector underlines the urgent need for energy expansion in the region.
Devastating droughts across Eastern and Southern Africa have set a context for why scenario planning is so vital, with the potential of dams regularly running dry. Bilateral and regional infrastructure will be critical to countering the impact, and to reduce dependence on dominant energy sources, The need for urgent grid infrastructure investment is just one of the topics to be discussed. Working collaboratively with the mining sector to support economic growth and its vision for a cleaner energy future is another.
“Having supported the mining sector in DRC for 14 years, we welcome this opportunity for the important conversations that will unlock opportunities in energy and infrastructure across Zimbabwe and Zambia, and power a sustainable future,” said Manoj Patil, Director of Mining Engineering Services, a Vinmart Group Company, and a sponsor of the summit.
Other topics set to drive change this November include creating an attractive energy investment destination and using innovative and profitable renewable solutions to meet universal access targets, benefitting industries and consumers. By bringing key energy players together, in one place, with one goal, the summit is set to drive projects in both countries more quickly to financial close and establish a clear pathway for risk mitigation.
Speaking on behalf of Marsh, also a summit sponsor, Mortimer McKechnie, Senior Vice President, Energy & Power Leader, Africa, added: “This is an opportunity to come together, share experiences and think innovatively. Linking capital and mitigating risk can boost development for both countries, and Marsh is very excited to be part of this summit.”
The summit connects Zimbabwe and Zambia’s Ministries, utilities, regulators and energy organisations, with international private sector stakeholders, institutional investors, private financiers, service and technology providers. DFIs and multinationals attending include the African Development Bank (AfDB), British International Investment (BII), FMO, Trade and Development Bank (TDB), Climate Fund Managers and Standard Bank.
They join the host of public sector leaders and stakeholders set to speak at the summit, most notably the Ministers from Zimbabwe and Zambia, the EU Ambassador to Zimbabwe, and esteemed speakers from ZERA, Zambezi River Authority (ZRA), ZESCO, ZARENA, ZESA Holdings and RAEZ.
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FACILITATING ENERGY INVESTMENT IN FAST-GROWING ECONOMIES – EnergyNet has produced investment forums and executive dialogues for Africa and Latin America’s power sectors for the last 25 years – in Europe, the USA, Asia and across Africa and Latin America. We work with governments and national utilities to facilitate investment summits where credible international investors can build relationships with public sector stakeholders to advance access to power. Best known for the Africa Energy Forum, the longest-serving business development meeting place for senior-level decision makers in Africa’s power sector, other leading investment summits we provide strategic perspectives on the investment landscape and project preparation include the Tanzania Energy Cooperation Summit, H2 Africa, Offshore Technology Africa, Powering Africa Summit, Latin American Energy Forum and Latin American & Caribbean Gas Conference and Exhibition. YES! Youth Energy Summit and YES! Youth Energy Day are part of the portfolio, with a focus on creating a platform and network to boost the skills, connections and business readiness of a new generation of African energy leaders . Having this focus on public and private sector partnerships provides us with a valuable lens through which we can offer independent perspectives and support the business development activities of companies from around the world operating in these fast-growing markets. Our team talks daily with stakeholders across Africa, Latin America and the Caribbean to support these insights, so relationships and investor insights are our business and our passion.
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